Coldwell Banker Commercial Closes $360,000 Deal
Twenty Acres in Cannabis Cultivation Zone Sold
Coldwell Banker Commercial, a premier provider of real estate services and a leader in the commercial real estate industry in the High Desert, today announced the sale of two contiguous 10-acre parcels in Adelanto. Senior Vice President Ron Barbieri and Vice President Steven Thompson represented the seller of the vacant land.
Located to the east of Adelanto Road at the southeast corner of Mesa Linda Road and Cassia Street, the properties are industrially-zoned with a Cannabis Cultivation Zone overlay. Future development plans for the properties are unknown. “Both properties were sold to a buyer who was represented by another brokerage company from the Los Angeles Basin. It is our understanding that the property was purchased by a land investor,” said Barbieri.
“The seller, David Pham, was very knowledgeable about investment properties and 1031 exchanges. He was able to accommodate the needs of the buyer who was involved in an exchange,” Barbieri reported.
Pham, an Orange County land investor who owns several properties in the Adelanto area, praised the ease in which the transaction was conducted by the Coldwell Banker Commercial professionals. “Ron Barbieri and his partner, Steven Thompson, were very effective in selling the 20 acres of land I owned in the Cannabis Cultivation Zone,” Pham said. “Their knowledge of what is happening in the industrial areas in the City of Adelanto enabled me to better evaluate my portfolio and decide which properties to sell.”
“This property had to be marketed as a land investment because the utilities were approximately one-half mile to the west and north. The offer came through a new marketing channel we used to expose the property to potential buyers,” said Coldwell Banker Commercial President Jason Lamoreaux.
“We target cannabis zones throughout the region and the new marketing channel has proven to be an excellent resource for us,” Thompson said, “We have been very active in sales and leasing in that strategic area of the High Desert market since the end of 2015.”
A team of experienced commercial agents, with broker Jason Lamoreaux, provide commercial real estate brokerage services for all of the High Desert cities and surrounding areas. To reach Barbieri, Thompson or any other member of Coldwell Banker Commercial regarding your real estate needs, please call (760) 684-8000 or visit our website at www.cbcdesert.com.
About Coldwell Banker Commercial Affiliates, Inc.
Coldwell Banker Commercial Affiliates is one of the leading franchisors of commercial real estate services through the Coldwell Banker Commercial® brand. Founded by Chris and Jason Lamoreaux, Coldwell Banker Commercial Real Estate Solutions is an independently owned and operated affiliate member of Coldwell Banker Commercial, a premier provider of real estate services and a leader in the commercial real estate industry. The Coldwell Banker Commercial network of brokers serves the needs of owners and occupiers in the leasing, acquisition, disposition, structured finance and management of all property types. The Coldwell Banker® network of commercial brokers can be found in over 500 offices in 41 countries. For additional information about Coldwell Banker Commercial Real Estate Solutions, contact the Victorville office at (760) 684-8000 or visit www.cbcdesert.com. CAL BRE #01857050
About Coldwell Banker®
Since 1906, the Coldwell Banker®organization has been a premier provider of full-service residential and today is the #1 dollar volume real estate firm in the nation. Coldwell Banker® is the oldest national real estate brand in the United States and today has a network of more than 82,000 sales agents working in approximately 3,100 offices in 50 countries and territories. The Coldwell Banker brand is known for creating innovative consumer services as recently seen by being the first national real estate brand to create an iPad application and the first to fully harness the power of video in real estate listings, news and information through its Locations YouTube channel. The Coldwell Banker system is a leader in specialty markets such as resort, new homes and luxury properties through its Coldwell Banker Previews International® marketing program. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Coldwell Banker is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services.